The ASX 200 made a little comeback in afternoon trade, but still traded flat on the day as local stocks struggled for direction.

Energy stocks did their best to drag the broader index higher, as oil prices consolidate back above US$70/barrel.

But the big miners got sold off following another dip in iron ore prices, while the ASX Financials index was unable to mount a rally.

Here are the large cap sectors that UBS expects to outperform (and underperform) as the economy emerges from east coast lockdowns in the months ahead.


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Pre-IPO investors in the December 2020 listing of luxury online fashion retailer Cettire (ASX:CTT) are sitting on a tidy ~6x gain, as shares in the company continued to rip higher in Tuesday trade.

At a close above $3.40, Cettire shares are now almost 600% higher than their listing price of 50c, as the stock pushes higher while other high profile ecommerce stocks such as (ASX:KGN) struggle for traction.

Speaking of big gains, standout gold play Chalice Mines (ASX:CHN) has also been climbing in September on no news as the now-$2.5bn company pushes back towards all-time highs above $7.50.

There were also more strong gains for wagering platform Betmakers Technology (ASX:BET), which was a 7c stock two years ago and now trades at $1.40.


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Among the laggards was iron ore major Fortescue (ASX:FMG), which has now dipped back below $18 after hitting all-time highs above $25.

US-based BNPL player Sezzle (ASX:SZL) also dipped in Tuesday trade, as investors assess the outlook for the sector in the wake of Square Inc’s plans to acquire Afterpay.